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The reason you build up your crownland is so that in 1610 you can start getting absolutism as soon as possible, if you're going to be stating a reasonable amount of land, you'll want to keep the autonomy penalty as low as possible.
You also don't want to keep your privileges since the max absolutism reduction is a massive hit. Only if you get max crownland and court and country, as well as two government reforms for increasing it does it make sense to keep a couple of them around; Such as the monarch power.
Around the 17th century, you will be surprised at how 100 absolutism can accelerate your countries expansion rapidly, and then with Imperialism/Nationalism it only speeds it up more.
The +.2 local autonomy at 5% crownland counters the -.125 local autonomy for being a kingdom at peace. this means that every decade you will lose 7.5% of your income/trade/manpower CUMULATIVELY until you get another source of -autonomy.
The penalty to absolution is a huge deal for the mid-game. it's the best single stat in the game since it gives discipline, core cost, annex cost, overextension, warscore cost, and aggressive expansion buffs. Generally you want to be at 60-75% crownland when the age of absolution hits so that you can get the +1 yearly absolution.
the statements about monopolies are just factually wrong
-it costs you the income from ALL your production of that resource
-You are paid out 80% of 10years profit based on your CURRENT production, but you lose 100% of any increase in production for those 10 years.